tl;dr
Bitwise, an asset management firm, plans to launch the "Bitcoin Standard Corporations ETF," which will invest in companies holding substantial amounts of Bitcoin. The company has filed a registration with the SEC and set specific criteria for the companies included in the index. This move reflects a...
Bitwise, an asset management firm, is planning to launch the "Bitcoin Standard Corporations ETF," which will invest in companies holding substantial amounts of Bitcoin. The company has filed a registration with the SEC and set specific criteria for the companies included in the index. This move reflects a growing trend of Bitcoin treasury adoption among corporations.
Additionally, Strive, co-founded by Vivek Ramaswamy, has filed for a new ETF named the Bitcoin Bond ETF, which is expected to invest in convertible bonds issued by companies for purchasing Bitcoin.
On December 27, Bitwise filed a registration with the US Securities and Exchange Commission (SEC) to launch the "Bitcoin Standard Corporations ETF." This fund will invest in companies that hold substantial amounts of Bitcoin as part of their corporate financial reserves. Bitwise has also set specific criteria for the companies comprising the index, such as a minimum market capitalization of $100 million and a publicly traded free float of under 10%.
This move by Bitwise comes amidst a growing trend of Bitcoin treasury operations among corporations. Publicly listed companies account for 49% of all entities currently holding Bitcoin, and over the past two months, the amount of BTC held by publicly traded companies has surged by 60%, collectively representing 20% of the total Bitcoin held by all entities.
Recently, non-crypto companies such as Rumble, Anixa Biosciences, Interactive Strength, Hoth Therapeutics, Nano Labs, Solidion Technology, and Cosmos Health have announced Bitcoin purchases, leading to a rise in their stock values.
Additionally, Strive has filed for a Bitcoin Bond ETF, which is expected to invest in convertible bonds issued by companies for the purchase of Bitcoin.